In the Cook Islands, PSDI-supported reforms are making it easier to start, manage, and finance a business.
We have been working with the Government of Cook Islands to:
Develop a secured transactions framework that will make it easier for lenders to accept movable assets as collateral;
- Design and develop an online domestic Companies, Incorporated Societies, and Personal Property Securities Registry, which launched in December 2019;
Create clear and inclusive company laws, including the Companies Bill, which passed Cook Islands Parliament in December 2017, and became active with the December 2019 registry launch;
Strengthen the financial position of Bank of Cook Islands, and build its capacity to identify and manage operational risks;
Review the legislative, governance, and monitoring framework for Cook Islands’ SOEs; and
Support reforms through advocacy and analysis, including a comprehensive assessment of the private sector published in 2015: The Cook Islands: Stronger Investment Climate for Sustainable Growth.
Resources and Spending
PSDI has increased its activity in the Cook Islands over the past few years, with almost one-third of the $1,459,028 in total funding spent in 2018–2019.
Spending on business law reform, which includes the development of an online companies registry and associated legal reform, accounts for 52% of all spending in the Cook Islands. Competition and Consumer Protection received the second highest proportion—20%—of overall allocations to Cook Islands. This included the preparation of a Telecommunications Bill and a Multi-sector Regulator Bill, which both passed Parliament in 2019.
On this website, $ refers to US dollars unless otherwise stated.
For detailed information on PSDI activities in the Cook Islands, download the April 2020 PSDI Country Overview here.
Cook Islands at a glance
Modern, locally tailored business laws
Online business registrations
Secured transactions reform
Private sector assessment
PSDI has supported the development of a new suite of business laws that make it easier to do business and access finance in the Cook Islands.
PSDI has supported the Cook Islands Ministry of Justice to make critical updates to the online Companies, Incorporated Societies, and Personal Property Securities Register to enable the implementation of the COVID-19 Economic Response Act.
The Parliament of the Cook Islands passed the PSDI-supported Covid-19 Economic Response Act on 2 July, intended to assist businesses in the Cook Islands that are affected by COVID-19 to continue trading, preserve their economic value, and retain employees.
In the Cook Islands, the activation of the Manatua communications cable, scheduled for mid-2020, is going to dramatically increase digital connectivity. PSDI has been helping the Government of Cook Islands prepare for this by ensuring the country has a modern, enabling business environment. This has involved reforming important business laws, and the development of an online Companies, Incorporated Societies, and Personal Property Securities Registry. The registry is making crucial business administration...
RAROTONGA, COOK ISLANDS (12 December 2019) — A new online registry will help improve the efficiency of doing business in the Cook Islands, making it easier for businesses and individuals to access much-needed finance to help expand and develop their operations and contribute to job creation and incl
The Cook Islands now has a modern, online system for the registration and administration of companies, incorporated societies and personal property securities, making it easier to do business and access finance.